Question

find the principal if the compound interest at the rate of 20% BB per annum for 2 year is 3520​

Answer 1

ANSWER :

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Amount = 3520

Rate = 20%

Time = 2 year

$= a =p ( {1 + \frac{r}{100} })^{n} \\ = 3520 = p( {1 + \frac{20}{100} })^{2} \\ = 3520 = p( { \frac{120}{100} })^{2} \\ = 3520 \times \frac{100}{120} \times \frac{100}{120} = p \\ = \frac{22000}{9} = p \\ = 2444.44 = p$

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